NEW DELHI: Here are top 10 stocks that may be in focus today.
Bharti Airtel: The telecom major on Sunday announced that its board has approved raising up to ₹21,000 crore via rights issue at ₹535 per share of fully paid-up equity share (including a premium of ₹530/- per equity share) at its meeting. Terms of payment of Issue Price will be 25% on application and balance in two more additional calls within an overall time horizon of 36 months.
Future Retail: The company on Saturday filed a new case against Amazon.com Inc at the Supreme Court in its latest effort to seek clearance for its $3.4 billion retail assets sale, which the U.S. firm has challenged. The Supreme Court this month dealt a blow to Future when it said an interim decision by a Singapore arbitrator in October 2020 that put its deal with Reliance Industries on hold - following Amazon's complaint - was valid in India.
Go Airlines India: The airline has got the green light from the nation’s market regulator to raise 36 billion rupees ($485 million) through an initial public offering. GoAir’s share sale was put on hold in June by the Securities and Exchange Board of India.
IDBI Bank: The public sector lender has said said that it will offload its entire 19.18 per cent stake in Asset Reconstruction Company (India) Limited (ARCIL). The proposal was approved by the bank's board on Friday, it said in a regulatory filing on Friday.
IDFC First Bank: The private sector lender is targeting to grow its retail loan book by 25% on a long term basis and expects the mortgage lending to account for 40% of its loan book going forward.
Pharma stocks: Leading drug makers Dr Reddy's Laboratories and Zydus Pharma are recalling bottles of a product each, in the US market, for different reasons, according to the latest report of the US health regulator.
Power stocks: The Union power ministry may issue an order allowing Tata Power and Adani Power to sell electricity from their facilities in Mundra, Gujarat, according to media reports. The two plants, with a combined capacity of 8,000 megawatts, which operate using imported coal, are non operational in the absence of compensation for high fuel cost.
SAIL: The government owned steelmaker has announced an investment of ₹4,000 crore in Jharkhand over the next three years. This funding will be used to enhance the capacity of its Gua mines, and install a 4-million-tonne (MT) pallet plant.
Tata Motors: The homegrown auto major on Friday said it has received approval of the National Company Law Tribunal (NCLT) Mumbai bench to hive off its passenger vehicles business unit into a separate entity. Subsequently, the matter moved back to the NCLT for a final order.
Tata Steel: The domestic steel giant will invest ₹8,000 crore in capital expenditure on its India operations during the current financial year, the company's chief executive and managing director T V Narendran said. The amount will be spent mainly towards completion of the expansion of the Kalinganagar plant, and expansion of mining operations and recycling business.
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August 30, 2021 at 10:02AM
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Stocks to Watch: Bharti Airtel, Future Retail, IDBI Bank, Tata Motors - Mint
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